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Morocco: Overseas Investments Rise 68% in H1

Chinese tourists browse at a shopping area in Casablanca in 2016. Youssef Boudlal/Reuters
Chinese tourists browse at a shopping area in Casablanca in 2016. Youssef Boudlal/Reuters
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Morocco: Overseas Investments Rise 68% in H1

Chinese tourists browse at a shopping area in Casablanca in 2016. Youssef Boudlal/Reuters
Chinese tourists browse at a shopping area in Casablanca in 2016. Youssef Boudlal/Reuters

Moroccan overseas investments rose 68.1 percent during H1 of 2019 to reach MAD4.2 billion (USD444 million) end of June, according to the latest statistics from the Foreign Exchange Office (Office des Changes) Friday.

The key Moroccan investment operation abroad was Maroc Telecom acquiring Tigo Chad mid-March. Further, Addoha Group launched its investments in luxurious and medium real estate in Côte d'Ivoire end of April.

In this context, Addoha Group opened a branch for its company ‘Prestigia’ - specialized in luxurious real estate - in Abidjan, in concurrence with launching projects there for luxurious and tourist residency at the high-class Plateau business town.

Meanwhile, the Foreign Exchange Office revealed a relapse in net foreign investments flow in Morocco during this period by around 19.6 percent, reaching MAD8.3 billion (USD872 million) end of June.

The office added that the Moroccan trade deficit deepened by 4.9 percent, increasing to MAD102.5 billion (USD10.8 billion) due to the hike of Moroccan imports of products and goods by 3.8 percent to MAD250.6 billion (USD26.4 billion) while exports rose by 3.1 percent to MAD148 billion (USD15.6 billion).

During this period, Morocco suffered from the shrinkage of the international automotive market – this affected exports of the automotive industry making it the first exporting sector in Morocco.

Moreover, agriculture products and food industries exports witnessed a rise by 6.7 percent – the value of the emerging industry of aviation exports rose by 12 percent, while phosphate and its derivatives exports increased by 1.1 percent.

The Moroccan imports were topped by processing products with MAD65.4 billion (USD6.9 billion), an increase of 9.9 percent, in addition to semi-manufactured products with a value of MAD54 billion (USD5.7 billion) i.e. a rise of 5.7 percent, and manufactured consumer products with a value of MAD56 billion (USD5.9 billion) an increase of 3.2 percent.

However, imports of energy, raw material, and food products dropped by 0.7 percent, 4.2 percent, and 2.8 percent, consecutively.

The services’ balance credit improved by 13.2 percent, totaling MAD40.4 billion (USD4.25 billion) and making use of the enhancement in tourism incomes and the performance of the offset services sector.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.